What is the due date for the Attorneys' Fees owed to Engel & Volkers?
Engel_Volkers Franchise · 2025 FDDAnswer from 2025 FDD Document
| Type of Fee | Amount | Due Date | Remarks |
|---|---|---|---|
| Attorneys’ Fees | Varies | On demand. | You are responsible for our costs and attorney’s fees if we incur them in any litigation proceeding with you in which we prevail or if we have to obtain an injunction against you. |
Source: Item 6 — OTHER FEES (FDD pages 22–30)
What This Means (2025 FDD)
According to Engel & Volkers's 2025 Franchise Disclosure Document, attorneys' fees are due 'on demand.' This means that Engel & Volkers franchisees are responsible for covering Engel & Volkers's legal costs and attorneys' fees if Engel & Volkers wins a legal dispute against the franchisee or needs to obtain an injunction against them.
This 'on demand' payment schedule means Engel & Volkers can request immediate payment for these fees, which could create a sudden financial burden for the franchisee. It is different from fees due upon receipt of an invoice, which allows for a more predictable payment timeline.
Franchisees should be aware of this potential liability and factor it into their financial planning. It would be prudent to maintain adequate legal and financial reserves to handle such a demand, should it arise. Prospective franchisees should seek clarification from Engel & Volkers regarding the circumstances that might trigger these fees and the typical range of such costs.